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Power of Two System

  • #261
  • Jul 7, 2023 8:59am Jul 7, 2023 8:59am
there was any trade today in EU GU ?
  • #262
  • Jul 7, 2023 11:34am Jul 7, 2023 11:34am
Quoting lostup
{quote} if price should keep making high and high i will move up and up the line ?
I would mark previous candle wick as external range high. If we break that high - yes I would adjust the range accordingly. If we though make a new fractal I would reevaluate and adjust the range. Hope that makes sense :-)
  • #263
  • Jul 7, 2023 12:01pm Jul 7, 2023 12:01pm
Quoting AzteroiD
{quote} I would mark previous candle wick as external range high. If we break that high - yes I would adjust the range accordingly. If we though make a new fractal I would reevaluate and adjust the range. Hope that makes sense :-)
Additionally for clarity , You can continue to use the last follow through setup until that new fractal high you reevaluated has been interacted with. So even though a fractal printed on that high, it’s just our new external range high, until a candle wicks it or closes past it, then you look for new setup
Can't go broke making profit
  • #264
  • Jul 7, 2023 12:05pm Jul 7, 2023 12:05pm
This is a concept a lot of traders struggle to see when opening their charts. The latest fractal might just be a new high from the previous follow through range.

for example if you’re in a bullish SFT and price keeps pushing higher and higher and then a fractal repaints to a previous bar high, that fractal is currently just used as external range high until interacted with, but people will wait for it to be interacted with and ignore the current SFT
Can't go broke making profit
  • #265
  • Jul 7, 2023 12:29pm Jul 7, 2023 12:29pm
Question!
This is where I struggle. Determining the 4H bias. As explained in the YouTube material we mark up current price - high or low then mark nearest fractal.
The picture is from their free newsletter clearly showing external range. Although several fractals has been created later on. Are we only adjusting our range and bias when price interact with our external range? And how do we manage to determine our bias with a blank chart then. If we mark up current price and nearest fractal the range would be much smaller than shown in the picture.
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  • #266
  • Jul 7, 2023 12:56pm Jul 7, 2023 12:56pm
Quoting AzteroiD
Question! This is where I struggle. Determining the 4H bias. As explained in the YouTube material we mark up current price - high or low then mark nearest fractal. The picture is from their free newsletter clearly showing external range. Although several fractals has been created later on. Are we only adjusting our range and bias when price interact with our external range? And how do we manage to determine our bias with a blank chart then. If we mark up current price and nearest fractal the range would be much smaller than shown in the picture....
For example if you came to chart like this, your bias would be bullish, and you would ignore last two fractal, as the fractal high is just a extension, as price hasn't interacted with it yet... and the new lower fractal hasn't been wicked or crossed, so this isn't used yet either. This is still bullish, but a lot of traders would just start from the recent fractal and wait for a setup.

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For people struggling to see this, try using this indicator, and change fractal break type to "Wick and Body"
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Now a line will appear only when a fractal has been interacted with, making it easier to see which fractal are most important
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Can't go broke making profit
  • #267
  • Jul 7, 2023 4:37pm Jul 7, 2023 4:37pm
Quoting FireScape
{quote} For example if you came to chart like this, your bias would be bullish, and you would ignore last two fractal, as the fractal high is just a extension, as price hasn't interacted with it yet... and the new lower fractal hasn't been wicked or crossed, so this isn't used yet either. This is still bullish, but a lot of traders would just start from the recent fractal and wait for a setup. {image} For people struggling to see this, try using this indicator, and change fractal break type to "Wick and Body" {image} {image} Now a line will appear...
Granted we can only use the previous fractals as an external range if they are still valid though, is that correct? Valid here meaning if we were to pull the RR tool, neither the TP nor the SL has been hit?
Also valid meaning, both the low fractal and the high fractal must not have been interacted with?
  • #268
  • Jul 7, 2023 4:53pm Jul 7, 2023 4:53pm
Quoting FireScape
{quote} How has gold performed in your experience
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  • #269
  • Jul 7, 2023 5:28pm Jul 7, 2023 5:28pm
Quoting HazHazHaz
{quote} Granted we can only use the previous fractals as an external range if they are still valid though, is that correct? Valid here meaning if we were to pull the RR tool, neither the TP nor the SL has been hit? Also valid meaning, both the low fractal and the high fractal must not have been interacted with?
correct yah
Can't go broke making profit
  • #270
  • Jul 8, 2023 2:55am Jul 8, 2023 2:55am
in attached picture can someone tell which fractals /high low i have to mark ? to enter in trade
sorry for bad english
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  • #271
  • Jul 8, 2023 4:35am Jul 8, 2023 4:35am
Quoting lostup
in attached picture can someone tell which fractals /high low i have to mark ? to enter in trade sorry for bad english {image}
I would mark the last fractal low, and the new high(with no fractal marking)

Please correct if I'm wrong
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  • #272
  • Jul 8, 2023 4:52am Jul 8, 2023 4:52am
Quoting lostup
in attached picture can someone tell which fractals /high low i have to mark ? to enter in trade sorry for bad english {image}
Most recent Fractal High and Fractal Low but you have to take some more steps before entering a long or short position. You can read thread again from the beginning for better understanding.
  • #273
  • Jul 8, 2023 7:11am Jul 8, 2023 7:11am
Quoting bandler
{quote} I would mark the last fractal low, and the new high(with no fractal marking) Please correct if I'm wrong {image}
correct!
Can't go broke making profit
  • #274
  • Jul 8, 2023 8:04am Jul 8, 2023 8:04am
Quoting FireScape
{quote} correct!
Thank man for sharing such a beautiful system and I am really excited to test on my live account. I will also sharing my results here.
  • #275
  • Edited 8:45am Jul 8, 2023 8:26am | Edited 8:45am
Quoting rehmatkhan00
{quote} Thank man for sharing such a beautiful system and I am really excited to test on my live account. I will also sharing my results here.
I'm glad you like the system, I felt like traders could get a lot of value out of it. Keep us updated, looking forward to seeing your progress!
Can't go broke making profit
  • #276
  • Jul 8, 2023 8:29am Jul 8, 2023 8:29am
Quoting FireScape
{quote} For example if you came to chart like this, your bias would be bullish, and you would ignore last two fractal, as the fractal high is just a extension, as price hasn't interacted with it yet... and the new lower fractal hasn't been wicked or crossed, so this isn't used yet either. This is still bullish, but a lot of traders would just start from the recent fractal and wait for a setup. {image} For people struggling to see this, try using this indicator, and change fractal break type to "Wick and Body" {image} {image} Now a line will appear...
I wonder if some of this comes from different brokers showing fractals differently as we have seen. What some see as a NFT may show up as an FT retracement to others.
  • #277
  • Jul 8, 2023 8:36am Jul 8, 2023 8:36am
Quoting charlienoble
{quote} I wonder if some of this comes from different brokers showing fractals differently as we have seen. What some see as a NFT may show up as an FT retracement to others.
Perhaps, but just wanted to highlight that always checking the most recent fractal will make you miss setups, because there's continuations from the prior ones
Can't go broke making profit
  • #278
  • Jul 8, 2023 8:54am Jul 8, 2023 8:54am
Attached Image (click to enlarge)
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it looks like NFT and will be entering into Long Entry in London or NYK Sessions if it plays out
  • #279
  • Jul 8, 2023 9:26am Jul 8, 2023 9:26am
Quoting rehmatkhan00
{image} {image} it looks like NFT and will be entering into Long Entry in London or NYK Sessions if it plays out
looks good
Can't go broke making profit
  • #280
  • Jul 8, 2023 9:33am Jul 8, 2023 9:33am
I hope, it ends well for me
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